M/S PEAK MINERALS & MINING PRIVATE LIMITED,DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 32, DELHI
Before: SHRI SATBEER SINGH GODARAAssessment Year: 2017-18 M/s. Peak Minerals & Mining Pvt. Ltd., 116A, Somdutt Chamber-1, Bhikaji Cama Palace, RK Puram, New Delhi Vs. DCIT, Central Circle-32, Delhi PAN: AAGCP5126K (Appellant)
This assessee’s appeal for assessment year 2017-18, arises against the Commissioner of Income Tax (Appeals)-30 [in short, the “CIT(A)”], New Delhi’s DIN and order no. ITBA/APL/M/250/2025-
26/1079714267(1), dated 19.08.2025 involving proceedings under section 147 r.w.s. 144B of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).
Heard both the parties at length. Case file perused.
2. Coming to the assessee’s first and foremost legal ground challenging validity of the impugned reopening itself, the tribunal
Assessee by Sh. Ankur Agarwal, CA
Department by Sh. Manoj Kumar, Sr. DR
Date of hearing
24.11.2025
Date of pronouncement
24.11.2025
2 | P a g e hereby notices from a perusal of the case records that the learned
Assessing Officer had set into motion section 148/147 mechanism after recording a reasons to believe that its income representing accommodation entries involving a sum of Rs.11,79,20,000/- had escaped assessment whereas his assessment framed on 30th
March, 2022 ended up disallowing interest expenditure under section 69C amounting to Rs.79.20 lakhs which has been upheld in the lower appellate discussion.
3. That being the clinching factual position, I hereby quote CIT
Vs. Jet Airways (I) Ltd. (2011) 331 ITR 236 (Bom.) that such a reopening wherein the learned Assessing Officer does not make any addition qua this sole reason therein; is not sustainable in law. The same stands quashed in very terms.
All other pleadings between the parties on merits stands rendered academic.
This assessee’s appeal is allowed.
Order pronounced in the open court on 24th November, 2025 (SATBEER SINGH GODARA)
JUDICIAL MEMBER
Dated: 24th November, 2025. RK/-